Free Fraction Terms & Conditions

VALIDY OF OFFER (FROM AND INCLUDING): 22 Jun 2022
LAST UPDATED AT:
21 Jun 2022

Introduction

1. Proptee's (“Proptee”, “we”, “us” or “our”) free fraction referral programme (“Free Fraction Referral Programme”) is valid from the date mentioned above for a period of twelve (12) calendar months, which we may choose to extend at our full discretion. By taking any actions under the Free Fraction Referral Programme, you (the Sender or Recipient as defined below) agree to be bound by these Free Fraction Terms & Conditions (“Referral Terms & Conditions”). These terms are governed by English law.

2. Under the Free Fraction Referral Programme one or multiple free fractions (“Free Fraction”) will be awarded to the Sender and the Recipient (both as defined below) who have successfully completed a Referral (as defined below) in accordance with our Referral Terms & Conditions.

3. We reserve the right, at our sole discretion, to update these Referral Terms & Conditions at any time. If we make an update, we will post the updated version of the Referral Terms & Conditions on our website here and provide you notice of the update. Continued participation in the Free Fraction Referral Programme after any update shall mean that you have agreed to the update(s) made by Proptee.

4. The Referral Terms & Conditions are in addition to Proptee’s Terms and Conditions (as may be updated from time to time) which can be found here (as long as this is not to your detriment). In the event of any conflict between the Referral Terms & Conditions and Proptee's Terms and Conditions, these Referral Terms & Conditions apply.

5. Proptee may end these Referral Terms & Conditions at any time or may decide to not renew the Referral Terms & Conditions at the end of a validity period by giving you written notice.

Sender's Terms

6. This section of the Referral Terms & Conditions apply to existing customers (the “Sender”) who refer Recipients (as defined below) to receive a Free Fraction. We will consider that a Sender has referred a Recipient to us if: (a) it sends the referral link provided by us (“Referral Link”) via the Proptee app to the Recipient; and (b) the Recipient uses the Referral Link to successfully sign up to a Proptee account (a “Referral”).

7. A Referral to an existing or previous Proptee customer will be ineligible for a Free Fraction. The Sender must be an existing customer of Proptee at the time of making a Referral.

8. A Sender can receive no more than ten (10) Free Fractions per calendar month. Neither the Sender nor the Recipient will be eligible for a Free Fraction in respect of Referrals made in excess of this maximum Free Fraction amount. Referrals that qualify for a Free Fraction cannot be "carried over" into subsequent months. Referrals are attributed to the month in which the Recipient provides Proptee with their email address after clicking on the Referral Link.

9. The Sender must comply with: (i) the Referral Terms & Conditions; and (ii) the terms and policies of any website or application where a Referral Link is shared. Referral Links may only be used in connection with the Sender’s participation in the Free Fraction Referral Programme and for no other purpose whatsoever.

10. Subject always to conditions 6, 7, 8, 9, 10 and 11, we will only award a Free Fraction to the Sender if the Recipient has successfully:
(a) Used the Referral Link to become a customer of Proptee;
(b) Passed all of our onboarding checks; and
(c) Opened and funded their Proptee account with a cash amount of not less than €10 (EUR) (“ Minimum Funding Amount”).

11. Proptee reserves the right to increase the Minimum Funding Amount at any time without prior notice.

12. The Recipient must fund his or her Proptee account in accordance with condition 12.

13. The Recipient must fund his or her Proptee account with the Minimum Funding Amount within thirty (30) calendar days of using the Referral Link. The Sender acknowledges that the failure by the Recipient to fund his or her Proptee account within the foregoing timeframe will result in the Free Fraction award to lapse for both the Sender and the Recipient.

14. If the Recipient closes their account before the Free Fraction is awarded by Proptee, neither the Sender or the Recipient will be eligible for a Free Fraction pursuant to these Referral Terms & Conditions.

15. Free Fractions awarded under these Referral Terms & Conditions will be valued between €3 (EUR) and €100 (EUR) at the time of award.

16. Subject to the eligibility of the Sender and the Recipient and the requirements outlined under these Referral Terms & Conditions being met by each of the foregoing, each Free Fraction is a virtual currecy which is selected randomly by Proptee from a pool of virtual currencies we select for our Free Fraction Referral Programme. The Sender acknowledges that:
(a) the probability of each Free Fraction is weighted so more expensive fractions will be rarer;
(b) approximate distribution of the value of free fractions is available in our Free Fraction FAQs.
The value of a Free Fraction means its approximate market value based on the price of the virtual currency at the time of award. The Sender acknowledges that the value of a Free Fraction may fluctuate, meaning its price may go up or down.

17. We will aim to award each Free Fraction to the Sender within ten (10) business days of a successful Referral such that the requirements outlined in these Referral Terms & Conditions are satisfied by both the Sender and the Recipient (“Sender Award Timeframe”). The Sender acknowledges that Proptee makes no guarantees whatsoever that each Free Fraction will be awarded in the Sender Award Timeframe. If the Free Fraction has not been awarded within the Sender Award Timeframe, the Sender must email [email protected] For the avoidance of doubt, under no circumstances shall the Sender be entitled to any form of compensation for our failure to award the Free Fraction within the Sender Award Timeframe.

18. The Sender acknowledges that any cash proceeds received by it in connection with its sale of the Free Fraction can only be withdrawn after thirty (30) calendar days from the award date of the Free Fraction.

19. The Sender acknowledges that employees and contractors of Proptee are not eligible to be awarded a Free Fraction in connection with our Free Fraction Referral Programme.

20. For the avoidance of doubt, a Free Fraction will be awarded to Recipient(s) who are eligible and accepted as a customer by Proptee. We reserve the right to refuse to onboard any prospective Recipients.

21. Neither receiving a Free Fraction nor any of our communications in connection with the Free Fraction Referral Programme constitute a recommendation by us to buy, sell, exercise any rights in or hold any virtual currency. Under no circumstances does Proptee provide investment advice and individual investors should make their own decisions on what investments are right for them or seek independent advice.

22. The Sender acknowledges that it may be subject to tax implications upon receiving a Free Fraction. Under no circumstances shall Proptee be held liable or responsible for any such tax implications.

23. We reserve the right to modify, pause, suspend or end: (i) the Free Fraction Referral Programme, in whole or in part; and (ii) both the Sender and the Recipient’s ability to either participate in the Free Fraction Referral Programme, at any time without cause, including for any suspected activity we deem to be abusive, fraudulent, or in violation of these Referral Terms & Conditions. In the event that you do not agree with a decision that we make regarding your participation in the Free Fraction Referral Programme under this condition 25, you can make a complaint to our Customer Service team at [email protected], where your complaint will be handled in accordance with our complaints order handling procedure.

24. In the event that we deem a Referral to be in material breach of these Referral Terms & Conditions, neither the Sender nor the Recipient will be eligible for an award of a Free Fraction. If we determine a material breach of these Referral Terms & Conditions, we may clawback, sell or cancel or take any other action as permitted under applicable law in respect of any Free Fractions or proceeds from Free Fractions in the Sender's or Recipient's account that relates to such breach.

Recipient's Terms & Conditions

25. This section of the Referral Terms & Conditions apply to the new customer (the “Recipient”) who has used a Referral Link to sign up as a Proptee customer.

26. In accordance with and subject to these Referral Terms & Conditions, we will award a Recipient a Free Fraction to the Recipient in the event that a Recipient uses a Referral Link to sign up as a customer of Proptee.

27. The Recipient must comply with: (i) the Referral Terms & Conditions; and (ii) the terms and policies of any website or application where a Referral Link is posted. Referral Links may only be used in connection with the Recipient’s participation in the Free Fraction Referral Programme and for no other purpose whatsoever.

28. Subject always to conditions to conditions 6, 7, 8, 9, 10, 11, 14 and 15, we will only award a Free Fraction to the Recipient if the Recipient has successfully:(a) Used the Referral Link (as defined above) to become a customer of Proptee;(b) Passed all of our onboarding checks;(c) Opened and funded their Proptee account with a cash amount of not less than €10 (EUR) (“Minimum Funding Amount”).

29. Proptee reserves the right to increase the Minimum Funding Amount at any time without prior notice.

30. A Free Fraction cannot be claimed by an existing or previous Proptee customer under these Referral Terms & Conditions.

31. The Sender must be an existing customer of Proptee at the time of making a Referral in order for the Recipient to be eligible for a Free Fraction under the Free Fraction Referral Programme.

32. The Recipient must fund his or her Proptee account in accordance with condition 10.

33. The Recipient must fund his or her Proptee account with the Minimum Funding Amount within thirty (30) calendar days of using the Referral Link. The Recipient acknowledges that failure to do so within the foregoing timeframe will result in the Free Fraction award to lapse for both the Recipient and Sender.

34. If the Recipient closes his or her account before the Free Fraction is awarded by Proptee, neither the Sender or Recipient will be eligible for a Free Fraction pursuant to these Referral Terms & Conditions.

35. Free Fractions awarded under these Referral Terms & Conditions will be valued between €3 (EUR) and €100 (EUR) at the time of awarding.

36. Subject to the eligibility of the Sender and the Recipient and the requirements outlined under these Referral Terms & Conditions being met by each of the foregoing, each Free Fraction is a virtual currency which is selected randomly by Proptee from a pool of virtual currencies we select for our Free Fraction Referral Programme.The Sender acknowledges that:(a) the probability of each Free Fraction is weighted so more expensive fractions will be rarer;(b) the approximate distribution of the value of free fractions is available in our Free Fraction FAQs here.The value of a Free Fraction means its approximate market value based on the price of the virtual currency at the time of award. The Recipient acknowledges that the value of a Free Fraction may fluctuate, meaning its price may go up or down.

37. We will aim to award each Free Fraction to the Recipient within ten (10) business days of successfully signing up as a customer of Proptee using the Referral Link subject to the Referral Terms & Conditions being satisfied by both the Sender and the Recipient (“Recipient Award Timeframe”). The Recipient acknowledges that Proptee makes no guarantees whatsoever that each Free Fraction will be awarded in the Recipient Award Timeframe. If the Free Fraction has not been awarded within the Recipient Award Timeframe, the Recipient must email [email protected] For the avoidance of doubt, under no circumstances shall the Recipient be entitled to any form of compensation for our failure to award the Free Fraction within the Recipient Award Timeframe.

38. The Recipient acknowledges that any cash proceeds received by it in connection with its sale of the Free Fraction can only be withdrawn after thirty (30) calendar days from the award date of the Free Fraction.

39. For the avoidance of doubt, a Free Fraction will be awarded to Recipient(s) who are eligible and accepted as a customer by Proptee. We reserve the right to refuse to onboard prospective Recipients who fail to meet the eligibility criteria outlined in these Referral Terms & Conditions at any given time.

40. Neither receiving a Free Fraction nor any of our communications in connection with the Free Fraction Referral Programme constitute a recommendation by us to buy, sell, exercise any rights in or hold any financial instrument. Under no circumstances does Proptee provide investment advice and individual investors should make their own decisions on what investments are right for them or seek independent advice.

41. The Recipient acknowledges that it may be subject to tax implications upon receiving a Free Fraction. Under no circumstances shall Proptee be held liable or responsible for any such tax implications.

42. We reserve the right to modify, pause, suspend or end: (i) the Free Fraction Referral Programme, in whole or in part; and (ii) both the Sender and the Recipient’s ability to either participate in the Free Fraction Referral Programme, at any time without cause, including for any suspected activity we deem to be abusive, fraudulent, or in violation of these terms and conditions.

43. In the event that we deem a Referral to be in material breach of these Referral Terms & Conditions, neither the Sender nor the Recipient will be eligible for an award of a Free Fraction. If we determine a breach of these Referral Terms & Conditions, we may clawback, sell or cancel or take any other action as permitted under applicable law in respect of any Free Fractions or proceeds from Free Fractions in the Sender's or Recipient's account that relates to such breach. We may exercise these rights in respect of a Recipient's Free Fractions or proceeds in the event that the breach arises from the actions of the Recipient or Sender of the Referral Link used by the Recipient.